In this piece, we will take a look at the 5 best booming stocks to buy now according to hedge funds. If you want to take a look at why best booming stocks are important to buy now, take a look at 12 Best Booming Stocks to Buy Now According to Hedge Funds.
5. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 144
Share Price Gains Year to Date: 81.72%
Uber Technologies, Inc. (NYSE:UBER) is a San Francisco, California-based ride-hailing company founded in 2009.
Insider Monkey took a look at hedge fund portfolios for Uber Technologies, Inc. (NYSE:UBER) Q2 investments and found out that 144 had a stake in the company. Altimeter Capital Management was the firm’s largest shareholder which had about 13.3 million shares for roughly $575.7 million of Uber Technologies, Inc. (NYSE:UBER).
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 175
Share Price Gains Year to Date: 201.36%
One of the largest semiconductor manufacturers, NVIDIA Corporation (Nasdaq:NVDA) hit $1 trillion in market capitalization at the end of May. This year till date its shares are up about 201%.
Insider Monkey took a look at hedge fund portfolios for NVIDIA Corporation (Nasdaq:NVDA) Q2 2023 investments and found out that 175 had a stake in NVIDIA Corporation (Nasdaq:NVDA. Citadel Investment Group was its biggest shareholder which has roughly 21.4 million shares for about $9 billion of NVIDIA Corporation (Nasdaq:NVDA).
3. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 204
Share Price Gains Year to Date: 53.28%
Alphabet’s (Nasdaq:GOOG, GOOGL) made it to the top 3 best booming stocks buy now according to hedge funds in our list.
Google’s CEO Sundar Pichai said during Q2 2023 earnings call, “We delivered solid performance in Search and YouTube and ongoing strong growth in Cloud, where we remain focused on long-term value creation. And we continue our important work to operate more efficiently, creating durable savings to fund investments in our biggest priorities.“
Alphabet (Nasdaq:GOOG, GOOGL) had 204 hedge funds investors at the end of June 30 this year, out of the 910 hedge funds profiled by Insider Monkey. The firm’s largest investor is Harris Associates which maintained roughly 26.9 million shares for about $3.2 billion of Alphabet (Nasdaq:GOOG, GOOGL).
2. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 225
Share Price Gains Year to Date: 153.93%
Meta Platforms, Inc. (Nasdaq:META) has revolutionized technological advancements by offering advanced products and services with continuous improvement and product development. It reported a Q2 total revenue of $32 billion up 11%, while net income stood at $7.8 billion or $2.98 per share.
Insider Monkey took a look at hedge fund portfolios for Meta Platforms, Inc. (Nasdaq:META) Q2 and found out that 225 had a stake in the company. Citadel Investment Group was the firm’s largest shareholder which had roughly 19.5 million shares for about $5.6 billion of Meta Platforms, Inc. (Nasdaq:META).
1.Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 278
Share Price Gains Year to Date: 51.19%
Founded in 1994 in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) posted a whopping $134.4 billion revenue in Q2 and topped our list of 12 best booming stocks to buy now according to hedge funds.
Disclosure: None. You can also take a look at 12 Best Artificial Intelligence (AI) Stocks To Buy According to Hedge Funds and 11 Best Stocks to Buy in Falling Markets According to Hedge Funds.
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